Author of "Your Journey from Fired to Hired"

"You're Fired!" Time to Become an Entrepreneur?

So you’ve just heard those dreaded words, “You’re Fired!”  It doesn’t really matter why you lost your job.  That’s history.  What matters most is what you do now.  And believe me, while it might not feel like it at the moment, losing your job can be a wonderful opportunity to reinvent yourself.  There are actually lots of benefits to being fired, in fact there are seven right here.

You see chances are good that if you were let go from your position something wasn’t working.  Perhaps the company wasn’t a good fit for you personally or maybe it was a stretch for your skillset.  Regardless, it’s likely that you knew in your heart that things weren’t right but hadn’t taken the initiative to make a change.  With the decision made for you, you literally have nothing to lose!!  If you've been fired and you're looking for tips to move forward, check out my latest book, "Your Journey from Fired to Hired."

It’s important that you take this opportunity to improve your life…both personally and professionally.  One of the best ways is to find a job that you actually enjoy.  And you can’t realistically expect the perfect fit to fall in your lap.  It’s critical that you are willing to ask yourself some tough questions and determine your priorities.  There are lots of resources out there to help and to get started check out, “5 Tips to Find a Job You Love!” 

Interestingly enough, after being fired many folks decide that it’s time to give their entrepreneurial skills a try.  Remarkably I found myself distinctly in this camp.  And I must admit, I was a bit surprised.  Owning my own business had absolutely never interested me.  It wasn’t that I doubted my abilities.  Rather that I simply didn’t want the risk of failure.  To me, working for someone else implied a sense of security and financial stability.  What I swiftly realized after being fired (I know I was a late bloomer on this topic!) was that absolutely everything we do in life has risk.  And that owning a business  simply allowed me to “control” the risk.  Becoming an entrepreneur presents a host of other benefits as well:

  • Control.  Being fired obviously presents a host of emotions to work through, but I found one of the most difficult the lack of control in my own destiny.  In talking to others who have unexpectedly lost their job, it appears a pretty common emotion.  Becoming a business owner offers total control. You don’t like the way something is going?  Change it.  You want to try a new marketing approach…do it!
  • Freedom.  For many, freedom is one of the biggest attractions to becoming an entrepreneur.  And owning a business literally gives you unlimited freedom.  There are no dress codes, no work schedules, and perhaps best of all no overly demanding bosses to please. You can literally do your work at a coffee shop half way around the world if you'd like.  Or just imagine taking some time off without needing the approval of someone that's powerful!
  • Financial Opportunity. Admittedly more small business flounder than succeed; however, it has long been acknowledged that you will never get rich working for someone else.  Consequently, unlimited earning potential is a big motivator for many entrepreneurs.
  • Notoriety.  If you are convinced that you can offer a service or product better than what is currently in the marketplace and you have solid business skills, fame may be waiting.  For example, did you know the founder of Ebay started auctioning things off on his personal website?  To read more stories like these, check out “8 Great Entrepreneurial Success Stories.”  
  • No limits. Working for someone else imposes limits.  Quite simply being self-employed imposes none.  There is no hierarchy of steps to achieve before climbing the next rung on the ladder and there is certainly no limit to the success (or income!) you can achieve.
  • No Boss. After being terminated, the idea of not having a boss to please can be incredibly exhilarating.  Just a word of caution though:  If you counted on your boss to provide you lots of direction to get your work done, being an entrepreneur may not be for you.  Owning a business requires strong self-starting skills and unparalleled motivation to accomplish the tasks at hand.
  • Legacy.  While being remembered after death isn’t important to everyone, to some it’s a critical measure of a life well-lived.  The harsh reality is that while some companies “memorialize” long term employees, most simply move on once you stop coming to work.  Consequently, many new entrepreneurs list the opportunity to create a legacy for future generations as one of their primary motivators.

Admittedly becoming and entrepreneur can be both exhilarating and terrorizing.    But after working for others for much of my career, the “terror” of owning my own business pales in comparison to having “control” over my life.

Which of these things is the most attractive to you?

Article written by:

Kathi Miller-Miller is a sought after career specialist and author of “Your Journey from Fired to Hired.” Kathi draws on her 25+ years of success (and failures!) to offer her readers advice on topics ranging from dealing with a boss that drives you crazy to managing millennials...all in a light-hearted and easy to read style.

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